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How can social performance indicators be the right step forward for mutual microinsurance?


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Presentation made by Eve Thiong'o (Business Development Manager, SME & Microinsurance, CIC Insurance Group, Kenya) at the 6th ICMIF Development Network Seminar (1-2 November 2012; Nairobi, Kenya)

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How can social performance indicators be the right step forward for mutual microinsurance?

  1. 1. SPI ‘s -DIVIDED INTO FOUR DIMENSIONS: Product value: The product provides the client with appropriate and effective risk coping mechanisms Client protection: The insured are treated fairly and respectfully Inclusion: The product aims to include the less privileged Social responsible behaviour: The micro-insurer has enabling institutional systems in place
  2. 2. An organisation throughits intent, design, system SPIs is a management and activities can tool for micro- deliberately affect the insurance practitionersoutcome or impact of its existence through SPIs
  3. 3. There are 4 Dimensions which serve as ameasurement for SPIs. These are supported by principles which are the codes of conduct and regarded as an integral part of managing a micro-insurance project The Guidelines assist in applying the principles, and propose practical ways of improving practices and operations that will fulfil the principles.
  4. 4. •have a product focus and centred on theoutput level (except the social investmentratio)•are developed through this consultativeprocess•are KEY and limited in number•are quantitative ratios; and•SMART(Specific, Measurable, Attainable, Realistic,Timely).
  5. 5. Dimension Principles Guidelines Indicators Product The product provides TITLE needs are assessed - Client - Incurred value the client with during the product claims ratio* appropriate and development stage - Renewal effective risk coping - Client feedback is ratio* mechanisms monitored to enable - Promptness regular improvements of claims - Improvements are ratio*Product specific designed to add value for clients Client The insured are Based on Smart Campaign - Claims protection treated fairly and guidelines. The micro insurer rejection respectfully ensures the integration of: ratio* - Transparency - Complaints - Fair and respectful ratio treatment of clients - Privacy of client data - Mechanisms for complaint resolution
  6. 6. Dimension Principles Guidelines Indicators TITLE Inclusion The product - Physical, financial and educational - Coverage ratio* aims to obstacles are reduced - % insured under th include the - Exclusion criteria are reduced poverty line less privileged - The socioeconomic profile of clients - % female insured is monitored - % insured above retirement ageProuct Specific Governance and management Social The micro - Social investment - Client focus is visibly endorsed and responsibl insurer has encouraged by management ratio e enabling - Effective translation of the organisations social mission into practice is ensured behaviour institutional - External accountability is created and socialInstitutional specific systems in audits conducted - Transparent board procedures and incentive place policy (including accountability towards members in a member based organisation) are applied - Appropriate systems are in place for periodic assessment of product value, client protection; and inclusion Social responsibility to staff - Responsible treatment of staff is monitored through staff satisfaction surveys
  8. 8. SECURINGYOUR LIVESTOCK: Membersof Gakungu Arimis Group posefor a photo shoot when CICInsurance Group’s BusinessDevelopment Manager, SME &Microinsurance, Mrs. EveThiong’o handed some of themembers compensationcheques for livestock insurance.
  9. 9. INSURED:A stall owner insured underCICIG Biashara Salama attends toa customer.